DDR
Corp.
Income
Statement: Consolidated Interests
|
|
|
|
|
|
|
|
|
|
$ in thousands,
except per share
|
|
|
|
|
|
|
|
|
|
3Q15
|
|
3Q14
|
|
9M15
|
|
9M14
|
Revenues:
|
|
|
|
|
|
|
|
Minimum rents
(1)
|
$180,523
|
|
$171,893
|
|
$540,583
|
|
$507,475
|
Percentage
rent
|
835
|
|
507
|
|
3,592
|
|
2,772
|
Recoveries
|
61,915
|
|
58,116
|
|
188,016
|
|
171,947
|
Ancillary
income
|
4,646
|
|
6,326
|
|
13,513
|
|
18,465
|
Other revenues
(2)
|
968
|
|
919
|
|
2,866
|
|
4,552
|
|
|
248,887
|
|
237,761
|
|
748,570
|
|
705,211
|
Expenses
(3):
|
|
|
|
|
|
|
|
Operating and
maintenance
|
35,963
|
|
36,404
|
|
110,718
|
|
106,982
|
Real estate
taxes
|
37,385
|
|
34,981
|
|
112,811
|
|
104,042
|
|
|
73,348
|
|
71,385
|
|
223,529
|
|
211,024
|
|
|
|
|
|
|
|
|
|
Net operating
income
|
175,539
|
|
166,376
|
|
525,041
|
|
494,187
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
Fee income
|
8,248
|
|
7,594
|
|
24,713
|
|
23,696
|
Interest
income
|
7,331
|
|
2,652
|
|
21,703
|
|
8,938
|
Interest expense
(4)
|
(58,217)
|
|
(56,774)
|
|
(182,524)
|
|
(176,106)
|
Depreciation and
amortization
|
(97,155)
|
|
(97,270)
|
|
(299,470)
|
|
(296,093)
|
General and
administrative (5)
|
(17,596)
|
|
(19,540)
|
|
(55,462)
|
|
(58,878)
|
Other income
(expense), net (6)
|
(240)
|
|
(2,758)
|
|
(1,300)
|
|
(11,041)
|
Impairment charges
(7)
|
0
|
|
(1,448)
|
|
(279,021)
|
|
(18,119)
|
Income (loss) before
earnings from equity method investments and other items
|
17,910
|
|
(1,168)
|
|
(246,320)
|
|
(33,416)
|
|
|
|
|
|
|
|
|
|
Equity in net income
of joint ventures
|
648
|
|
3,620
|
|
2,351
|
|
10,241
|
Impairment of joint
venture investments
|
0
|
|
0
|
|
0
|
|
(9,100)
|
Gain on sale and
change in control of interests, net
|
0
|
|
3,984
|
|
7,772
|
|
87,814
|
Income from
discontinued operations (8)
|
0
|
|
57,569
|
|
0
|
|
67,926
|
Tax (expense)
benefit
|
(528)
|
|
214
|
|
(6,001)
|
|
(1,113)
|
Gain on disposition
of real estate, net of tax
|
41,793
|
|
2,262
|
|
78,154
|
|
2,645
|
Net income
(loss)
|
59,823
|
|
66,481
|
|
(164,044)
|
|
124,997
|
Non-controlling
interests (9)
|
(268)
|
|
2,125
|
|
(1,590)
|
|
2,985
|
Net income (loss)
attributable to DDR
|
59,555
|
|
68,606
|
|
(165,634)
|
|
127,982
|
Write-off of
preferred share original issuance costs
|
0
|
|
0
|
|
0
|
|
(1,943)
|
Preferred
dividends
|
(5,594)
|
|
(5,594)
|
|
(16,781)
|
|
(18,460)
|
Net income (loss)
attributable to Common Shareholders
|
53,961
|
|
63,012
|
|
(182,415)
|
|
107,579
|
FFO:
|
|
|
|
|
|
|
|
Net income (loss)
attributable to common shareholders
|
53,961
|
|
63,012
|
|
(182,415)
|
|
107,579
|
Depreciation and
amortization of real estate investments
|
95,159
|
|
99,542
|
|
293,265
|
|
304,286
|
Equity in net income
of joint ventures
|
(648)
|
|
(3,620)
|
|
(2,351)
|
|
(10,241)
|
Joint ventures'
FFO
|
6,595
|
|
8,387
|
|
21,114
|
|
24,507
|
Non-controlling
interests (OP units)
|
69
|
|
223
|
|
566
|
|
509
|
Impairment of
depreciable real estate
|
0
|
|
365
|
|
179,748
|
|
11,856
|
Gain on disposition
of depreciable real estate, net
|
(41,734)
|
|
(57,105)
|
|
(78,282)
|
|
(159,753)
|
FFO attributable
to Common Shareholders
|
113,402
|
|
110,804
|
|
231,645
|
|
278,743
|
Non-operating items,
net (10)
|
136
|
|
(4,589)
|
|
100,423
|
|
29,445
|
Operating
FFO
|
$113,538
|
|
$106,215
|
|
$332,068
|
|
$308,188
|
FFO per share –
Diluted (11)
|
$0.31
|
|
$0.31
|
|
$0.64
|
|
$0.77
|
Operating FFO per
share – Diluted (11)
|
$0.31
|
|
$0.29
|
|
$0.91
|
|
$0.85
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
Balance
Sheet: Consolidated Interests
|
|
$ in
thousands
|
|
|
|
|
At Period
End
|
|
|
|
|
|
|
3Q15
|
|
4Q14
|
Assets:
|
|
|
|
|
|
|
|
Land
|
|
|
|
|
$2,187,720
|
|
$2,208,468
|
Buildings
|
|
|
|
|
6,931,911
|
|
7,087,040
|
Fixtures and tenant
improvements
|
|
|
|
|
709,548
|
|
645,035
|
|
|
|
|
|
|
9,829,179
|
|
9,940,543
|
Less: Accumulated
depreciation
|
|
|
|
|
(2,038,635)
|
|
(1,909,585)
|
|
|
|
|
|
|
7,790,544
|
|
8,030,958
|
Construction in
progress and land
|
|
|
|
|
326,196
|
|
395,242
|
Real estate,
net
|
|
|
|
|
8,116,740
|
|
8,426,200
|
|
|
|
|
|
|
|
|
|
Investments in and
advances to joint ventures
|
|
|
|
|
393,520
|
|
414,848
|
Cash
|
|
|
|
|
21,040
|
|
20,937
|
Restricted
cash
|
|
|
|
|
41,920
|
|
11,375
|
Notes receivable,
net
|
|
|
|
|
47,430
|
|
56,245
|
Receivables,
including straight-line rent, net
|
|
|
|
|
131,209
|
|
132,661
|
Other assets, net
(12)
|
|
|
|
|
403,620
|
|
479,629
|
Total
Assets
|
|
|
|
|
9,155,479
|
|
9,541,895
|
|
|
|
|
|
|
|
|
|
Liabilities and
Equity:
|
|
|
|
|
|
|
|
Revolving credit
facilities
|
|
|
|
|
395,000
|
|
29,009
|
Unsecured
debt
|
|
|
|
|
3,118,656
|
|
2,765,893
|
Unsecured term
loan
|
|
|
|
|
300,000
|
|
350,000
|
Mortgage and other
secured debt
|
|
|
|
|
1,409,921
|
|
2,089,805
|
|
|
|
|
|
|
5,223,577
|
|
5,234,707
|
Dividends
payable
|
|
|
|
|
68,059
|
|
61,468
|
Other liabilities
(13)
|
|
|
|
|
425,507
|
|
448,192
|
Total
Liabilities
|
|
|
|
|
5,717,143
|
|
5,744,367
|
|
|
|
|
|
|
|
|
|
Preferred
shares
|
|
|
|
|
350,000
|
|
350,000
|
Common
shares
|
|
|
|
|
36,223
|
|
36,071
|
Paid-in-capital
|
|
|
|
|
5,467,413
|
|
5,438,778
|
Accumulated
distributions in excess of net income
|
|
|
|
|
(2,416,655)
|
|
(2,047,212)
|
Deferred compensation
obligation
|
|
|
|
|
15,516
|
|
16,609
|
Accumulated other
comprehensive income
|
|
|
|
|
(6,662)
|
|
(7,352)
|
Less: Common shares
in treasury at cost
|
|
|
|
|
(16,039)
|
|
(16,646)
|
Non-controlling
interests
|
|
|
|
|
8,540
|
|
27,280
|
Total
Equity
|
|
|
|
|
3,438,336
|
|
3,797,528
|
|
|
|
|
|
|
|
|
|
Total Liabilities
and Equity
|
|
|
|
|
$9,155,479
|
|
$9,541,895
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
Income
Statement: Unconsolidated Interests at
100%
|
|
|
|
|
|
|
|
|
|
$ in
thousands
|
|
|
|
|
|
|
|
|
|
3Q15
|
|
3Q14
|
|
9M15
|
|
9M14
|
Revenues:
|
|
|
|
|
|
|
|
Minimum
rents
|
$95,218
|
|
$78,647
|
|
$297,392
|
|
$260,122
|
Percentage
rent
|
383
|
|
318
|
|
1,325
|
|
1,051
|
Recoveries
|
28,772
|
|
21,469
|
|
90,234
|
|
64,661
|
Other
revenues
|
2,325
|
|
7,900
|
|
8,413
|
|
31,141
|
|
|
126,698
|
|
108,334
|
|
397,364
|
|
356,975
|
Expenses:
|
|
|
|
|
|
|
|
Operating and
maintenance
|
30,558
|
|
22,287
|
|
94,213
|
|
84,032
|
Real estate
taxes
|
17,118
|
|
12,596
|
|
52,859
|
|
37,852
|
|
|
47,676
|
|
34,883
|
|
147,072
|
|
121,884
|
|
|
|
|
|
|
|
|
|
Net operating
income
|
79,022
|
|
73,451
|
|
250,292
|
|
235,091
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
Interest
expense
|
(33,202)
|
|
(37,667)
|
|
(107,698)
|
|
(129,514)
|
Depreciation and
amortization
|
(49,949)
|
|
(31,435)
|
|
(158,168)
|
|
(107,165)
|
Impairment
charges
|
0
|
|
0
|
|
(448)
|
|
(600)
|
Tax
expense
|
0
|
|
0
|
|
0
|
|
(6,565)
|
Other income
(expense), net
|
(589)
|
|
(173)
|
|
(1,173)
|
|
(2,964)
|
|
|
(83,740)
|
|
(69,275)
|
|
(267,487)
|
|
(246,808)
|
|
|
|
|
|
|
|
|
|
(Loss) income from
continuing operations
|
(4,718)
|
|
4,176
|
|
(17,195)
|
|
(11,717)
|
Loss from
discontinued operations
|
0
|
|
(12,906)
|
|
0
|
|
(17,090)
|
Gain on disposition
of discontinued operations, net
|
0
|
|
4,713
|
|
0
|
|
28,224
|
(Loss) gain on
disposition of real estate, net
|
(2,626)
|
|
3,833
|
|
(4,197)
|
|
3,833
|
Non-controlling
interests
|
0
|
|
0
|
|
0
|
|
(2,023)
|
Net (loss) income
attributable to unconsolidated joint ventures
|
(7,344)
|
|
(184)
|
|
(21,392)
|
|
1,227
|
Depreciation and
amortization of real estate investments
|
49,949
|
|
35,574
|
|
158,168
|
|
118,020
|
Impairment of
depreciable real estate
|
0
|
|
11,093
|
|
448
|
|
11,693
|
Loss (gain) on
disposition of depreciable real estate, net
|
2,626
|
|
(8,546)
|
|
4,197
|
|
(31,965)
|
FFO
|
45,231
|
|
37,937
|
|
141,421
|
|
98,975
|
FFO at DDR's
ownership interests
|
6,595
|
|
8,387
|
|
21,114
|
|
24,507
|
Operating FFO at
DDR's ownership interests
|
6,639
|
|
8,387
|
|
21,162
|
|
24,643
|
|
|
|
|
|
|
|
|
|
Net income at DDR's
ownership interests
|
336
|
|
3,316
|
|
1,406
|
|
9,483
|
Basis
differences
|
312
|
|
304
|
|
945
|
|
758
|
Equity in net income
of joint ventures
|
$648
|
|
$3,620
|
|
$2,351
|
|
$10,241
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
Balance
Sheet: Unconsolidated Interests at
100%
|
|
|
|
|
|
|
|
|
|
$ in
thousands
|
|
|
|
|
At Period
End
|
|
|
|
|
|
|
3Q15
|
|
4Q14
|
Assets:
|
|
|
|
|
|
|
|
Land
|
|
|
|
|
$1,319,519
|
|
$1,439,849
|
Buildings
|
|
|
|
|
3,457,212
|
|
3,854,585
|
Fixtures and tenant
improvements
|
|
|
|
|
183,108
|
|
200,696
|
|
|
|
|
|
|
4,959,839
|
|
5,495,130
|
Less: Accumulated
depreciation
|
|
|
|
|
(799,161)
|
|
(773,256)
|
|
|
|
|
|
|
4,160,678
|
|
4,721,874
|
Land held for
development and construction in progress
|
|
|
|
|
52,215
|
|
55,698
|
Real estate,
net
|
|
|
|
|
4,212,893
|
|
4,777,572
|
Cash and restricted
cash
|
|
|
|
|
62,751
|
|
100,812
|
Receivables,
including straight-line rent, net
|
|
|
|
|
52,903
|
|
80,508
|
Other assets,
net
|
|
|
|
|
299,625
|
|
394,751
|
Total
Assets
|
|
|
|
|
4,628,172
|
|
5,353,643
|
|
|
|
|
|
|
|
|
|
Liabilities and
Equity:
|
|
|
|
|
|
|
|
Mortgage
debt
|
|
|
|
|
3,116,584
|
|
3,552,764
|
Notes and accrued
interest payable to DDR
|
|
|
|
|
2,926
|
|
144,831
|
Other
liabilities
|
|
|
|
|
198,804
|
|
276,998
|
Total
Liabilities
|
|
|
|
|
3,318,314
|
|
3,974,593
|
|
|
|
|
|
|
|
|
|
Redeemable preferred
equity
|
|
|
|
|
310,763
|
|
305,310
|
Accumulated
equity
|
|
|
|
|
999,095
|
|
1,073,740
|
Total Liabilities
and Equity
|
|
|
|
|
$4,628,172
|
|
$5,353,643
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp. Financial
Statements: Footnotes
|
|
$ in millions, except
per share
|
|
|
|
|
|
|
Includes discontinued operations
|
3Q15
|
|
3Q14
|
|
9M15
|
|
9M14
|
|
|
|
|
|
|
|
|
|
(1)
|
Minimum
rents:
|
|
|
|
|
|
|
|
|
Straight-line rent,
net
|
$1.6
|
|
$1.5
|
|
$3.8
|
|
$4.0
|
|
Below-market rent,
net
|
1.0
|
|
0.3
|
|
2.2
|
|
0.8
|
|
Ground lease
revenue
|
9.5
|
|
8.5
|
|
27.9
|
|
24.5
|
|
|
|
|
|
|
|
|
|
(2)
|
Other
revenues:
|
|
|
|
|
|
|
|
|
Lease termination
fees
|
0.7
|
|
0.7
|
|
2.3
|
|
4.1
|
|
Other
miscellaneous
|
0.3
|
|
0.2
|
|
0.6
|
|
0.5
|
|
|
|
|
|
|
|
|
|
(3)
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Recoverable expenses
(2014 excludes sold assets)
|
(67.7)
|
|
(64.0)
|
|
(206.2)
|
|
(189.3)
|
|
Non-recoverable
expenses (2014 excludes sold assets)
|
(5.6)
|
|
(7.4)
|
|
(17.3)
|
|
(21.7)
|
|
Straight-line ground
rent expense
|
(0.1)
|
|
(0.2)
|
|
(0.4)
|
|
(0.8)
|
|
Expensed costs of
suspended developments
|
(0.1)
|
|
(0.1)
|
|
(0.4)
|
|
(0.8)
|
|
|
|
|
|
|
|
|
|
(4)
|
Non-cash interest
expense:
|
|
|
|
|
|
|
|
|
Convertible debt
accretion
|
(3.0)
|
|
(2.9)
|
|
(8.9)
|
|
(8.5)
|
|
Debt fair value
amortization
|
3.0
|
|
4.1
|
|
12.7
|
|
12.5
|
|
Loan cost
amortization
|
(2.4)
|
|
(3.1)
|
|
(7.3)
|
|
(9.5)
|
|
Interest expense
(capitalized)
|
1.9
|
|
2.7
|
|
5.1
|
|
6.6
|
|
|
|
|
|
|
|
|
|
(5)
|
General and
administrative expenses:
|
|
|
|
|
|
|
|
|
Executive separation
charges
|
(0.0)
|
|
(0.0)
|
|
(2.3)
|
|
(0.0)
|
|
Stock compensation
expenses
|
(1.5)
|
|
(1.9)
|
|
(5.2)
|
|
(5.8)
|
|
Internal leasing
expenses
|
(1.8)
|
|
(1.7)
|
|
(5.5)
|
|
(5.6)
|
|
Construction
administrative costs (capitalized)
|
2.3
|
|
2.5
|
|
7.0
|
|
7.3
|
|
|
|
|
|
|
|
|
|
(6)
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
Transactions and
other, net
|
(0.2)
|
|
(1.6)
|
|
(0.4)
|
|
(8.8)
|
|
Litigation
expenses
|
(0.0)
|
|
(1.2)
|
|
(0.0)
|
|
(2.2)
|
|
Debt extinguishment,
net
|
(0.0)
|
|
(0.0)
|
|
(0.9)
|
|
(0.0)
|
|
|
|
|
|
|
|
|
|
(7)
|
Impairment
charges:
|
|
|
|
|
|
|
|
|
Assets marketed for
sale
|
(0.0)
|
|
(0.4)
|
|
(179.7)
|
|
(11.9)
|
|
Land previously held
for development
|
(0.0)
|
|
(1.4)
|
|
(99.3)
|
|
(15.1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
Financial
Statements: Footnotes
|
|
$ in millions, except
per share
|
|
|
|
|
|
|
|
Includes discontinued operations
|
3Q15
|
|
3Q14
|
|
9M15
|
|
9M14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(8)
|
Discontinued
operations:
|
|
|
|
|
|
|
|
|
Revenues
|
n/a
|
|
$10.8
|
|
n/a
|
|
$36.4
|
|
Expenses
|
n/a
|
|
(5.4)
|
|
n/a
|
|
(19.0)
|
|
Impairments
|
n/a
|
|
(0.4)
|
|
n/a
|
|
(8.9)
|
|
Depreciation
|
n/a
|
|
(4.5)
|
|
n/a
|
|
(14.9)
|
|
Gain on disposition
of real estate, net
|
n/a
|
|
57.1
|
|
n/a
|
|
74.3
|
|
Net income
|
n/a
|
|
57.6
|
|
n/a
|
|
67.9
|
|
|
|
|
|
|
|
|
|
|
Note: Presented for
2014 only as DDR adopted the new accounting guidance on January 1,
2015, which changed the definition for reporting.
|
|
|
|
|
|
|
|
|
|
(9)
|
Non-controlling
interests:
|
|
|
|
|
|
|
|
|
FFO attributable to
non-controlling interests
|
(0.2)
|
|
2.3
|
|
(1.2)
|
|
1.9
|
|
Operating FFO
attributable to non-controlling interests
|
(0.2)
|
|
(0.3)
|
|
(0.8)
|
|
(0.7)
|
|
|
|
|
|
|
|
|
|
(10)
|
Non-operating
items excluded from Operating FFO:
|
|
|
|
|
|
|
|
|
Non-cash impairment
charges – non-depreciable assets
|
0.0
|
|
1.4
|
|
99.3
|
|
24.2
|
|
Executive separation
charges
|
0.0
|
|
0.0
|
|
2.3
|
|
0.0
|
|
Transaction, debt
extinguishment, litigation, other, net
|
0.1
|
|
2.8
|
|
1.6
|
|
12.1
|
|
Joint ventures –
transaction, currency, other
|
0.0
|
|
0.0
|
|
0.0
|
|
0.1
|
|
Non-cash gain on sale
and change in control of interests, net
|
0.0
|
|
(4.0)
|
|
(7.8)
|
|
(4.0)
|
|
Tax expense
(primarily Puerto Rico restructuring)
|
0.0
|
|
0.0
|
|
4.4
|
|
0.0
|
|
(Gain) loss on sale
of non-depreciable real estate, net
|
0.0
|
|
(4.8)
|
|
0.6
|
|
(4.9)
|
|
Non-cash write-off of
preferred share original issuance costs
|
0.0
|
|
0.0
|
|
0.0
|
|
1.9
|
|
|
0.1
|
|
(4.6)
|
|
100.4
|
|
29.4
|
(11)
|
Outstanding per
share information:
|
|
|
|
|
|
|
|
|
Common shares (at
quarter end)
|
362.1
|
|
360.2
|
|
362.1
|
|
360.2
|
|
OP units (at quarter
end)
|
0.4
|
|
1.4
|
|
0.4
|
|
1.4
|
|
Total shares and
units (at quarter end)
|
362.5
|
|
361.6
|
|
362.5
|
|
361.6
|
|
Weighted average
shares and units – Basic – EPS
|
361.1
|
|
358.0
|
|
360.3
|
|
357.8
|
|
Assumed conversion of
dilutive securities
|
2.5
|
|
0.5
|
|
0.0
|
|
0.5
|
|
Weighted average
shares and units – Diluted – EPS
|
363.6
|
|
358.5
|
|
360.3
|
|
358.3
|
|
Weighted average
shares and units – Basic – FFO & OFFO
|
362.5
|
|
361.0
|
|
362.4
|
|
360.2
|
|
Assumed conversion of
dilutive securities
|
0.4
|
|
0.5
|
|
0.5
|
|
0.5
|
|
Weighted average
shares and units – Diluted – FFO & OFFO
|
362.9
|
|
361.5
|
|
362.9
|
|
360.7
|
|
Earnings per common
share – Basic & Diluted
|
$0.15
|
|
$0.17
|
|
$(0.51)
|
|
$0.30
|
|
FFO per share – Basic
& Diluted
|
$0.31
|
|
$0.31
|
|
$0.64
|
|
$0.77
|
|
Operating FFO per
share – Diluted
|
$0.31
|
|
$0.29
|
|
$0.91
|
|
$0.85
|
|
Common stock
dividends declared, per share
|
$0.1725
|
|
$0.155
|
|
$0.5175
|
|
$0.465
|
|
|
|
|
|
|
|
|
|
(12)
|
Intangible assets,
net (at quarter and year end)
|
|
|
|
|
323.1
|
|
389.2
|
|
|
|
|
|
|
|
|
|
(13)
|
Below-market
leases, net (at quarter and year end)
|
|
|
|
|
146.0
|
|
139.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
Financial
Statements: Footnotes
|
|
|
|
|
|
|
|
|
|
Additional
financial information
|
|
|
|
|
|
|
|
|
3Q15
|
|
3Q14
|
|
9M15
|
|
9M14
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures (DDR share):
|
|
|
|
|
|
|
|
|
Retenanting
|
$13.4
|
|
$9.8
|
|
$36.1
|
|
$30.5
|
|
Maintenance –
total
|
7.4
|
|
6.0
|
|
13.3
|
|
9.2
|
|
Maintenance PSF of
owned GLA – non reimbursable
|
|
|
|
|
0.09
|
|
0.10
|
|
|
|
|
|
|
|
|
|
|
Miscellaneous
(DDR share):
|
|
|
|
|
|
|
|
|
Est. value of land
owned adjacent to existing centers (at quarter end)
|
|
|
|
|
26.0
|
|
|
|
Cost basis of
headquarters (non-income producing at quarter end)
|
|
|
|
|
40.0
|
|
|